The Jets added another high-profile quarterback Friday, drafting the West Virginia standout Smith in the second round. That gives them an even bigger logjam at QB, and ESPN's Adam Schefter reports that the team will consider cutting Sanchez, its high-priced starting QB.

Sanchez, who got a five-year, $58.25 million contract in March 2012, will make $8.25 million this season whether he plays or not. He counts $12.85 million toward the salary cap this season, and that amount would be reduced by only $500,000 if the Jets cut him, but next year's hit would be only $4.8 million.

But the Jets may be willing to eat that contract after a dismal 2012 season in which Sanchez finished with 18 interceptions and a 66.9 QB rating as the Jets missed the playoffs. New York reportedly tried to unload his contract on Tampa Bay in the Darrelle Revis trade.

With the addition of Smith, the Jets have six QBs on their roster, including Tim Tebow, Greg McElroy, Matt Simms and veteran David Garrard, who signed earlier this offseason. Tebow struggled in limited action in his first season in New York, while McElroy has been a career backup, Simms has yet to play in the NFL, and Garrard hasn't played since 2010.

“I’m coming in with intentions to compete,” Smith said. “We’ll see where it goes from there.”